It is disrupting America’s social-media landscape
Save time by listening to our audio articles as you multitaskSchumpeter is quite clear, however, about what he sees in TikTok. It is not just the busty seductiveness of many of the clips that he cannot help noticing. It is the serious money changing hands. And the unmistakable thrill of creative destruction.
TikTok derives its magic from its algorithm and the data on which it is trained. Unlike Facebook’s rolling feed, TikTok’s simple, one-video interface means that the app always knows exactly what a user is watching. Clips are short, so viewers see a lot of them, generating plenty of information. This, combined with few friends and family clogging up the feed, allows the algorithm to match users with content creators that actually entertain them.
So far its revenues, though growing fast, are reportedly low . That is unsurprising. Donald Trump’s abortive attempt in 2020 to ban it on national-security grounds scared away advertisers. The ensuing drama—a thwarted sale, management upheaval and uncertainty over its relationship with ByteDance—caused yet more disarray. But these hurdles now appear to be behind it.
Second, e-commerce. Like other American social-media platforms, TikTok now enables viewers to buy goods directly by tapping a shopping tab on a video. It has teamed up with Shopify, an e-commerce platform, to bring more merchants to the site. So-called social commerce—including via live streaming—is far bigger in China than in America. Jeremy Yang of Harvard Business School says TikTok may build on Douyin’s experience in this field to bolster its online-shopping business.
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